Based on 7 hedge funds · latest filing: 2026 Q1 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added BKKT/WS than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🔻
Below peak — only 50% of 3.0Y high
50% of all-time peak
Only 7 funds hold BKKT/WS today versus a peak of 14 funds at 2023 Q3 — just 50% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
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Outflows — 12% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold BKKT/WS compared to a year ago (-12% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 100% buying
2 buying0 selling
Last quarter: 2 funds were net buyers (1 opened a brand new position + 1 added to an existing one). Only 0 were sellers (0 trimmed + 0 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 3 → 0 → 1. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
86% of holders stayed for 2+ years
■ 86% conviction (2yr+)
■ 14% medium
■ 0% new
6 out of 7 hedge funds have held BKKT/WS for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
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Buying through price weakness — shares +3%, value -15%
Last quarter: funds added +3% more shares while total portfolio value only changed -15%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
0 → 2 → 3 → 0 → 1 new funds/Q
New funds entering each quarter: 2 → 3 → 0 → 1. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️
Veteran-anchored — 86% veterans vs 14% newcomers
■ 86% veterans
■ 0% 1-2yr
■ 14% new
Entry-cohort mix of 7 holders: 6 (86%) are 2+ year veterans, 0 entered 1–2 years ago, and 1 (14%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 24% AUM from major funds
24% from top-100 AUM funds
2 of 6 holders rank in the top 100 by AUM, accounting for 24% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.